She reminds that throughout the world airlines mainly list their shares on stock exchanges. As examples, she mentions SAS, Finnair, Lufthansa, British Airways, KLM and Ryanair.

According to Auzina-Melalksne, airlines are suited for stock exchanges, as they have great reputation and the industry keeps expanding. Also, airlines are mostly large and important companies. Thus, airBaltic would be ideal for stock exchange.

However, the stock exchange head says there are several prerequisites for airBaltic’s successful position on the stock exchange.

Firstly, the company’s corporate governance has to be arranged. Namely, getting rid of the shareholders’ agreement and unnecessary business intermediaries.

Secondly, a clear and transparent airBaltic management structure has to be established, appointing responsible and professional council, instead of a political one. It is also necessary to extend the company’s board, which until now consisted of only one board member. The board also have to have only professionals.

As a third precondition for listing airBaltic shares on the stock exchange, Auzina-Melalksne mentions the availability of information on the company’s finances. «For example, airBaltic competitors who are listed on the stock exchange are all regularly publishing their financial statements, currently reporting a profit. For example, SAS, Ryanair and EasyJet are operating with profit. While a detailed justification is provided in case of losses,» the stock exchange head says.

«I think that until airBaltic starts listing shares, it has to purposefully use the time to improve reputation not only in the eyes of its clients and future investors, but also in terms of the entire population of Latvia, some of which will certainly be airBaltic shareholders as soon as it starts stock flotation,» Auzina-Melalksne says.

As reported, the national airline airBaltic’s shares might be listed on the stock exchange already in 2014, informed Anrijs Matiss, State Secretary at the Transport Ministry.

According to him, the state should not have to deal with aviation matters, so after the financial situation stabilizes, strategic investor will be attracted to the airline to expand its destinations and fleet. Currently, it is planned that airline’s stock flotation could start in 2014.

The government reached a decision on airBaltic future management at a close meeting on Tuesday, September 27. It stipulates investments of 57.6 million lats in the national airline, if its minority shareholders fulfill the conditions, the Prime Minister Valdis Dombrovskis revealed to journalists.

airBaltic shareholders’ meeting is set to take place today, September 29, during which decisions on the company’s share capital increase, the election of new board and council, as well as change in the statutes is likely to be adopted.

The Transport Minister Uldis Augulis explained that the Ministry has already prepared documents so that a new board and council can be appointed at the shareholders’ meeting. However, negotiations between the shareholders on the necessary decision adoption have not yet concluded.

Latvian Employers’ Confederation (LEC) is worried about ongoing events and their negative effect on the stability and future development of the country’s economy. LEC believes that stabilization of the financial situation requires careful coordination of actions between institutions and the government.

Compared to December 2017, level of producer prices in Latvian industry rose by 0.9 % in January 2018. Prices of products sold on the domestic market went up by 1.2 % and prices of exported products by 0.6 %.

Russia is trying to use the established situation to create chaos in Latvia. Efforts, however, are fated to fail, says chairman of Saeima’s Defence, Internal Affairs and Corruption Prevention Committee Ainars Latkovskis.

Latvia’s Finance Minister Dana Reizniece-Ozola has failed to prevent the decision made by United States Department of the Treasury, which is ruinous for the country’s financial sector and humiliating for its reputation, says chairman of New Conservative Party Jānis Bordāns.

Considering events of the last several days in the country’s banking sector and the arrest of the governor of the Bank of Latvia – Ilmārs Rimšēvičs – it is entirely possible that someone is currently realizing a massive information operation. Its structure and execution is not unlike the one observed in USA, France and Germany during the pre-election period, BNN was told by Latvia’s Defence Ministry.

«This situation is incredibly complicated. This situation is quite possibly the most complicated one I have ever been in. I feel a great deal of support from people I don’t know, as well as my friends and family members. I have decided to not back down – I am innocent. The the people attacking my reputation have only one goal in mind – to have me step down,» said the governor of the Bank of Latvia Ilmārs Rimšēvičs during a press conference on Tuesday, 20 February.

The number of people working in Latvia’s culture sector is equal to 4.5% of the total number of employed people in the country. This proportion is also larger than the average one across the European Union, according to data published by Eurostat.

Considering that Latvia’s Education and Science Ministry has several ongoing industry reforms, it would be best to put the proposal for compulsory secondary education on hold, said Education and Science Minister Kārlis Šadurskis during a meeting of Saeima’s Education, Culture and Science Committee.

Association of Latvian Commercial Banks sees a need for the European Central Bank (ECB) to become more involved in the discussion and help resolve the situation, considering evaluation of ABLV Bank’s business model is in direct competence of ECB.

The largest fast food catering restaurant network in Finland and Baltic States – Hesburger – plans to invest approximately EUR 11.5 million in business development this year. EUR 5.5 million are planned to be invested in Latvia’s market, says Hesburger Development Director Ieva Salmela.

On Tuesday, 20 February, air temperature in central and northern parts of Finland dropped to -27° C… -31° C in morning hours. In Norway, close to the Finnish border, air temperature has dropped as far as -34° C, according to data from meteorological stations.

It is not impossible that someone may want to undermine Latvia’s financial sector, said chairman of Latvian Finance and Capital Market Commission Pēters Putniņš in an interview to Rīta Panorāma programme on Tuesday, 20 February.

There are serious risks associated with European Union’s co-financed project for the revitalization of Skanste neighbourhood, including construction of Skanste tramway line, says member of Riga City Council and For Latvia’s Development party Viesturs Zeps.

Latvia’s society believes the KGB documents should be made publicly accessible immediately. In addition, residents say they are confident in their ability to discuss those documents without the country’s supervision, which takes the form of expert opinions prevailing over society’s moral views, as stated by guest researcher of History Institute of the University of Latvia M. His. Marta Starostina.

«What we have observed in the past several days is that Latvia’s financial sector has received several heavy strikes as a result of the government’s uncoordinated and chaotic actions. Prime Minister Māris Kučinskis has evidently ‘disappeared’ and offers no clear plans to resolve the crisis, whereas Finance Minister Dana Reizniece-Ozola says different things in every interview. Such behaviour will not help resolve the crisis. It could instead pull the country’s financial sector in a much deeper crisis,» says chairman of For Latvia’s Development Juris Pūce.

As a security measure, the governor of the Bank of Latvia Ilmārs Rimšēvičs has been applied with a prohibition to take post, said Latvian Prime Minister Māris Kučinskis after a meeting of the Cabinet of Ministers.